Stenger and Quiros Ousted from Management of Jay Peak and Burke

[BenedictGomez]

Here in CO every one talks about low property tax rates but we have sales and income taxes and in some towns even local sales taxes as well. I would be curious what the overall tax rate is across each state.

I think a great way to perceive this is through "Tax Freedom Day", rather than a rate metric. Tax Freedom Day is the day you stop working to pay the government and get to keep money for yourself and your family.

The average American worker, has all their paycheck from January 1 to April 24 go to government, afterwards they get to keep money.

5 WORST states in America by Tax Freedom Day

50 - Connecticut (May 21st)
49 - New Jersey (May 12th)
48 - New York (May 11th)
47 - Massachusetts (May 5th)
46 - California (April 30th)


http://taxfoundation.org/article/tax-freedom-day-2016-april-24

Don't forget that the border crossing to Jay becomes tedious if done on a regular basis......

Disagree. Locals seem to always skate through lickedy-split.

 

[deadheadskier]

I think a great way to perceive this is through "Tax Freedom Day", rather than a rate metric. Tax Freedom Day is the day you stop working to pay the government and get to keep money for yourself and your family.

The average American worker, has all their paycheck from January 1 to April 24 go to government, afterwards they get to keep money.

5 WORST states in America by Tax Freedom Day

50 - Connecticut (May 21st)
49 - New Jersey (May 12th)
48 - New York (May 11th)
47 - Massachusetts (May 5th)
46 - California (April 30th)


http://taxfoundation.org/article/tax-freedom-day-2016-april-24




.

Sercasm?

Under that scenario every contractor in the country would just wait until April 25th to bill for their work.

 

[cdskier]

Sercasm?

Under that scenario every contractor in the country would just wait until April 25th to bill for their work.

No...it makes perfect sense to me what BG said. If you gave 100% of your money that you earn to the government to cover all of your various taxes for the year, Tax Freedom day is the day you would have finished paying your taxes and now every single cent you earn after that point is your money. It has nothing to do with when people are billed for things. It is simply a calculation based on how much you are expected to earn in a year and what percent of that overall goes towards taxes in a given state. This is simply a different way to represent what you already pay spread out over the course of a year.

 

[JimG.]

It's six months. If you plan on living at your PQ residence more than that per year you need to apply for immigration status

6 months could work for me; not ideal though, I don't want to buy a second home and then be limited to being there only 6 months out of each year.

 

[deadheadskier]

No...it makes perfect sense to me what BG said. If you gave 100% of your money that you earn to the government to cover all of your various taxes for the year, Tax Freedom day is the day you would have finished paying your taxes and now every single cent you earn after that point is your money. It has nothing to do with when people are billed for things. It is simply a calculation based on how much you are expected to earn in a year and what percent of that overall goes towards taxes in a given state. This is simply a different way to represent what you already pay spread out over the course of a year.

His statement was the average American gives ALL of their pay check for the first four months.

If it's based off a calendar years
income and you get a refund for what you over pay I could see that working for certain people.

In reality, many Americans have very little in savings and live paycheck to paycheck. There would be a lot of unintended consequences for such people by switching to this model.

 

[bdfreetuna]

It's just a way to illustrate a %. Four months out of 12 = 33.3%.

 

[cdskier]

It's just a way to illustrate a %. Four months out of 12 = 33.3%.

Right. DHS completely missed the point. No one was ever suggesting this be done in reality. It is just a theoretical way to show how much of your money goes to taxes. If someone says 33% of your money goes to taxes, some people may not grasp the concept of how much that truly is. If on the other hand you say that every penny you earn until the end of April goes to the government, now it is much more concrete in being able to visualize this.

 

[BenedictGomez]

Sercasm? Under that scenario every contractor in the country would just wait until April 25th to bill for their work.

No, you're misunderstanding it. You can clink on the link for a full explanation.

No...it makes perfect sense to me what BG said. If you gave 100% of your money that you earn to the government to cover all of your various taxes for the year, Tax Freedom day is the day you would have finished paying your taxes and now every single cent you earn after that point is your money. It has nothing to do with when people are billed for things. It is simply a calculation based on how much you are expected to earn in a year and what percent of that overall goes towards taxes in a given state. This is simply a different way to represent what you already pay spread out over the course of a year.

The above is a good explanation of it.

 

[deadheadskier]

Right. DHS completely missed the point. No one was ever suggesting this be done in reality. It is just a theoretical way to show how much of your money goes to taxes. If someone says 33% of your money goes to taxes, some people may not grasp the concept of how much that truly is. If on the other hand you say that every penny you earn until the end of April goes to the government, now it is much more concrete in being able to visualize this.

I didn't click his link. I assumed it was a proposal he was making on how to change our tax collection practices. My bad.

Maybe not by BG, but I've seen some pretty crazy proposals put out there by folks. I just assumed that this was another one of those.

 

[Jully]

It is a cool way to visualize tax burden. The only issue with it that I can find, and the article actually says this, is that the state by state breakdown does not adjust for the income of that average individual of that state (at least that I could find) so while Connecticut, MA, NY, and NJ all certainly have high taxes, the average person in all those states definitely earns more than the average person in Alabama, Louisiana, or Mississippi.

So potentially NH and almost certainly VT should be higher up on the list and closer to MA, NJ, etc as the tax burden per income may be worse.

 

[fbrissette]

Don't forget that the border crossing to Jay becomes tedious if done on a regular basis......

If you buy in Sutton, that means you cross at Richforf Vt. 95% of the time there won't be any cars in front of you. There are also a couple of additional options where 99% of the time there will be no car (but not open 24hours on the canadian side). The crossings on the major highways (87, 89, and 91) are where the potential problems reside.

As to owning a house in another country there are usually two things you have to worry about:

- illegal immigation - For US and Canada, it means no more than 182 days in the country over any 365 days continuous period (calendar year does not apply).

- tax status - this is more complicated and is more stringent than the illegal immigration status and is calculated going back three years. You can fill out a form for exemption provided that you can show that you have a residence in your country of origin.

While it is true that there is no double taxation, if you violate the tax status in the US, you will be asked to pay taxes immediately to gain entry in the US. You then have to hire a lawyer to get things settled between both governments.

 

[yeggous]

Never had a problem at the border but you are correct, it would become a hassle if done regularly.

DHS, I had no idea that Canada limits that number of days you can spend there if your property is a second/vacation property. I'm sure that's related to tax avoidance issues.

The only time I went to the Eastern Townships, it was a pain in the ass. Canadian customs pulled me aside and sat me in a chair in their office. After 30 minutes of waiting quietly in the chair they finally came over to ask me 3-5 minutes worth of questions and let me go on my way. After that I swore not take return.

 

[fbrissette]

The only time I went to the Eastern Townships, it was a pain in the ass. Canadian customs pulled me aside and sat me in a chair in their office. After 30 minutes of waiting quietly in the chair they finally came over to ask me 3-5 minutes worth of questions and let me go on my way. After that I swore not take return.

If you own a property they treat you differently. Then get a Nexus/Global Entry pass, and it gets even easier.

I had the US pullover (30 minutes of waiting in a chair) twice in 6 years (out of about 240 crossings). The second time, the lady said she was sorry and that I was chosen by the computer for a random check. You probably got unlucky and got the same treatment. Or you may simply look like a snowboard druggie .

 

[JimG.]

And if you renounce US citizenship and then want it back and get it again, don't leave the country again. CBP will have a field day with you if you do.

No way I'll renounce US citizenship; I'm a dual national already (also a Swiss citizen). I wonder if there is a limit to how many passports one person can have.

 

[JimG.]

Take home message is don't buy in VT, find a town in NH whwere local taxes are not influenced to a large extent by local ed taxes. good luck

Looking in the Whites has always been on the list. I've always liked Wildcat and wouldn't mind skiing more at Cannon.

 

[deadheadskier]

Both Bartlett on the Wildcat side and Lincoln on the Cannon side have very low property taxes. The easier access to Northern VT on the Cannon side might be more appealing for you to get to VT areas when they get the snow. Also easier to shoot up to Quebec from there.

 

[JimG.]

Both Bartlett on the Wildcat side and Lincoln on the Cannon side have very low property taxes. The easier access to Northern VT on the Cannon side might be more appealing for you to get to VT areas when they get the snow. Also easier to shoot up to Quebec from there.

Sounds like good places to look.

I'm lucky my wife loves the mountains. She has always particularly liked NH and the Whites.

 

[yeggous]

Sounds like good places to look.

I'm lucky my wife loves the mountains. She has always particularly liked NH and the Whites.

Smart woman. The Whites dwarf anything else in the Northeast. It is my happy place.

Speaking from experience, the taxes in Bartlett are very low, but the town offers essentially no services. If you call 911 you'll have to wait 45 minutes for the volunteer ambulance. Conway has a more typical tax rate but offers the town services you would expect. Municipal sewer, a functional rec department / parks, three full time fire stations, local school system, etc. You'll save money in Bartlett for sure, but don't expect any services from the town.

 

[Smellytele]

Smart woman. The Whites dwarf anything else in the Northeast. It is my happy place.

Speaking from experience, the taxes in Bartlett are very low, but the town offers essentially no services. If you call 911 you'll have to wait 45 minutes for the volunteer ambulance. Conway has a more typical tax rate but offers the town services you would expect. Municipal sewer, a functional rec department / parks, three full time fire stations, local school system, etc. You'll save money in Bartlett for sure, but don't expect any services from the town.

You speak like a typical person from Mass that comes to live in NH and then wants the services they got while in taxachussetts.

 

[yeggous]

You speak like a typical person from Mass that comes to live in NH and then wants the services they got while in taxachussetts.

You're welcome. Please enjoy all the increased services that we vote in.

My roots in NH are at least as deep as anyone else here, with my family dating back to the earliest settlers in the state. There are multiple towns named after my family. Most of that family left NH during the early 20th century in search of employment.